Saudi Arabia Magnetic Resonance Imaging Market to reach USD 140.77 Million by 2027
Growing prevalence of diseases and increasing awareness for
healthcare services are the major drivers for the Saudi Arabia Magnetic
Resonance Imaging Market.
According to TechSci Research report, "Saudi
Arabia Magnetic Resonance Imaging Market – By Region, Forecast &
Opportunities, 2017-2027," the Saudi Arabia
Magnetic Resonance Imaging Market stood at USD 100.14 million in 2021 and is
anticipated to reach USD 140.77 million by 2027. This can be attributed to the
increasing incidence of cardiovascular & neurological diseases. The
increased awareness among the population for the usage of technology for the
diagnosis of ailments in the body is helping in the development of the Magnetic
Resonance Imaging Market in Saudi Arabia.
The Saudi government is investing heavily in
hospital infrastructure throughout the kingdom. Saudi Arabia government’s
support for medical diagnosis support will continue to develop, not only in
hospitals and clinics but also in many diagnostics centers. The stats show that
the maximum number of diagnosis are related to neurology and neurosurgery, and the
cases involved with it are prominent in the country, resulting in increased
demand for magnetic resonance imaging. the growing ageing population, which is
predisposed to chronic conditions, is expected to have an indirect impact.
Along with the increasing cases of the road accidents in the country is also
contributing to the development of the magnetic resonance imaging market. Healthcare
professionals frequently recommend MRI to patients who are hospitalized for a
chronic sickness or who are having surgery for any kind of chronic condition
since it helps in the diagnosis of the disease that the patient is suffering
from as well as its stages of severity. Therefore, companies in the magnetic resonance imaging
market are advised to concentrate on the availability of equipment which are
not only imported from other countries but can be manufactured in the country
also, that it will allow the development of the native companies and help in the
development and strengthening of the market of the country, which will also allow
some other international companies to take advantage of the developing and the
strengthening market of the country.
Browse over 28 market data Figures spread through 95
Pages and an in-depth TOC on "Saudi Arabia Magnetic
Resonance Imaging Market"
The Saudi Arabia
Magnetic Resonance Imaging Market is segmented into Field Strength, Type,
Architecture, Source, Application, End User, region, and by company. Based on
Field Strength, the market can be split into High Field MRI systems, Low-To-Mid-Field
MRI Systems, Very High Field MRI systems. High Field MRI held the largest
market share of around 57.91% in 2021. This can be attributed to the prevalence
of neurological problems such as brain damage associated with epilepsy in
addition to stroke, traumatic brain injury, and brain and spinal cord tumors,
necessitating the use of various magnetic resonance imaging during treatment.
Based on the Type, the
market is divided into Fixed and Mobile. The fixed type of MRI dominated the
market in 2021 and is anticipated to maintain its dominance during the forecast
period. This is because the entire market of the country is acquired by the
Fixed MRI and the benefits of it are much more than that of the Mobile MRI.
Also, the fixed type of MRI has a higher capacity than that of Mobile MRI in
terms of the diagnosis capability and the radiation strength that it possesses.
That’s why health practitioners prefer the usage of Fixed MRI as compared to
Mobile MRI.
Based on Architecture,
the market is bifurcated into Closed & Open. The majority of healthcare
facilities and diagnostic centers use the closed type of MRI equipment due to
the higher quality of the scanned image of the body part observed in the
patients. The reason for the higher quality of the details is the area covered
by the closed type of MRI, as the coverage is more than that of the open type
of MRI.
Based on the Source, the
market is divided into Import and Domestic, where the Import segment covers the
higher percentage than that of the domestic segment because the entire market
of the MRI is covered by the imported equipment and products including the
spare parts as well. The lack of local companies operating in the market is
also near to none, resulting in the lack of competition and participation,
thus, this creates an opportunity for the involvement of the indigenous
companies, and new entrants should take the opportunity of entering the market
with their new and innovative products.
The leading companies
operating in the Saudi Arabia Magnetic Resonance Imaging Market are:
- General Electric El Seif Healthcare Arabia Co. Ltd.
- Siemens Ltd., Saudi Arabia
- Philips Healthcare Saudi Arabia Ltd.
- Medtronic Saudi Arabia Co.
- Esaote SpA
- Hitachi Saudi Arabia, Ltd.
- Toshiba Corporation
- FUJIFILM Holdings Corporation
Saudi Arabia Magnetic
Resonance Imaging Market is a highly consolidated market with few established companies
holding significant share in the industry. However, the market is also
dependent on medical tourism, especially from Western Countries.
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“Various companies operating in Saudi
Arabia healthcare industry are focusing to make an entry into the Magnetic
Resonance Imaging space. The COVID-19 pandemic has clearly illustrated the
importance of Magnetic Resonance Imaging, particularly to lower the burden on
the X-Ray for producing scan of patients suffering from the COVID-19, thereby
strengthening the existing healthcare and imaging market of the country. For
instance, the practitioner and handlers of the MRI equipment also increased in
the recent years which directly indicates towards the developing phase of the
MRI market in the country as the demand for MRI equipment are increased so does
the requirement of technicians for handling of the equipment. Additionally, the
involvement of new companies into the market in recent years will make the market
to grow in recent years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Saudi Arabia Magnetic Resonance Imaging Market By Field Strength (High-Field MRI Systems, Low-to-Mid Field
MRI Systems, Very-High-Field MRI Systems), By Type (Fixed v/s Mobile), By Architecture (Closed v/s Open), By
Source (Import v/s Domestic), By Application (Brain and Neurological, Oncology,
Spine and Musculoskeletal, Abdominal, Cardiac & Others), By End User (Hospitals,
Imaging Centers, Ambulatory
Surgical Centers & Others),
By Region, Competition, Forecast & Opportunities, 2017-2027F”, has evaluated the future
growth potential of Saudi Arabia Magnetic Resonance Imaging Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Magnetic Resonance Imaging Market.
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